ERIC­S­SON TO LAY OFF 3,000, HIRE 1,000 IN ‘LARGE TRANS­FOR­MA­TION’

STOCK­HOLM: Tele­coms equip­ment maker Eric­s­son yes­ter­day con­firmed re­cent me­dia re­ports that it will cut 3,000 jobs in Swe­den, in­clud­ing in pro­duc­tion, re­search and de­vel­op­ment. The com­pany said, how­ever, that it also planned to hire 1,000 peo­ple in re­search and de­vel­op­ment over the next three years, as the com­pany un­der­goes a “large trans­for­ma­tion”. – AFP